EPFO: Rate of interest fixed on PF, absolutely no change made

Harleen Kaur Grewal

New Delhi, March 04, 2021: Retirement fund management body EPFO has announced the interest rate on provident fund deposits for the financial year 2020-21. There is no change in the interest rates. In the meeting of the Central Board of Trustees of the Employees Provident Fund Organization (EPFO) in Srinagar today, it was decided that interest rates shall not be changed. The EPFO will pay 8.50% interest this time, just like last year.

Before the meeting, it was feared that the EPFO would not pay 8.50%  interest. However, due to the incongruency of the KYC even after the declaration of 8.50%  interest, the money was not credited in time to the account of 40 lakh subscribers of EPFO.